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Dubai’s Real Estate Market Spikes

Transparent and investor-friendly policies have led to a surge in local and global property buyers leading to a spike in demand

Dubai’s real estate market has shown upward mobility in recent times, putting it on course for the strongest first-half performance ever, with nearly 43,000 sales transactions, the total value of which exceeded Dh114.5 billion. According to market assessment by experts, Dubai’s real estate sector has shown strong numbers in the first half of this year.

The strong momentum and exceptional performance of the market has attracted investors as proof of the same were the recently concluded June 2022 sales, which are considered the best since 2009.

Most market experts agree that the exceptional performance of the real estate market in recent months is leading to attracting investors. The increasing demand, the high real estate prices, and the high return on investment has also resulted in the influx of foreign investors.

Furthermore, the upward trend is expected to continue during the second half of this year with the influx of more foreign investors, thanks to the stimulating measures taken by the UAE government, such as modernising visa procedures, besides ensuring economic stability. Moreover, there is positive hope that with the continuous changes affecting the labour law in Dubai, coupled with the availability of mega projects, will lead to global companies and brands entering the market. Some of the mega structures include well known names such as the One Za’abeel and Atlantis The Royal.

As per the findings of JLL’s latest Global Real Estate Transparency Index (GRETI), the real estate markets of Dubai and Abu Dhabi have been recognised as the top global improvers in 2022. Dubai also entered the ‘Transparent’ tier for the first time underlining its position as the most transparent property market in the Middle East and North Africa region.

— ali@khaleejtimes.com